transparent objects are very nice and it's always present in mockups end new themes. Unfortunately, when we are using transparency, the text in the foreground is often messed with the background(part that would be hidden if the actual element was not transparent). Sometime it's impossible to understand what there is.
it can be solved by reducing the contrast or blurring the background (only under the transparent part). my suggestion is include wherever the transparency is used the option to blur the background on compiz. even more sophisticated effects can be taken to blur.

I think wobbly is a plugin that can disturb who doesn't like it. it's too noticeable to be activated by default. tired eyes can get "injured" by the changes of resolution and distortion that take place and we are moving a window.
I agree that it's an applet that calls attention from potentially linux users, but it's unlike fades that make the use of the computer more smooth, it distracts you when you just want to move windows making you lose your focus.